5 Technology Stocks to Buy Now According to Stanley Druckenmiller

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1. Coupang, Inc. (NYSE:CPNG)

Number of Hedge Fund Holders: 29     

Coupang, Inc. (NYSE:CPNG) is a South Korea-based ecommerce firm. The company has been in the Druckenmiller portfolio since the first quarter of 2021. The fund has steadily increased the initial stake it bought in the company, adding to it up 47%, 14%, and 15% in the subsequent quarters. The initial stake comprised just a little over 10.5 million shares purchased at an average price of $46.22. The shares have lost value in the past twelve months, dropping by about 63%. 

According to the latest filings, the hedge fund chaired by Druckenmiller owned more than 17.7 million shares of Coupang, Inc. (NYSE:CPNG) at the end of the fourth quarter of 2021 worth $521 million, representing 18.92% of the portfolio. 

Among the hedge funds being tracked by Insider Monkey, California-based investment firm Greenoaks Capital is a leading shareholder in Coupang, Inc. (NYSE:CPNG) with 115 million shares worth more than $3.4 billion.  

You can also take a peek at 10 Best Stocks to Buy According to Warren Buffett and 11 Biotech Stocks Popular On Reddit.

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